The Rupee opened steadier on Thursday, boosted by a broader risk rally after U.S. President Donald Trump stepped back from threats to impose tariffs on Europe over Greenland, allowing the currency to recover from record lows. The rupee's slide came despite what bankers said was intermittent central bank presence in the latter half of Wednesday's session, though several said the price action did little to suggest meaningful intervention. One banker noted that the currency continued to weaken despite sizeable dollar offers appeared via state-run banks, likely on behalf of the Reserve Bank of India. The Indian currency is set to find relief at the open on Thursday, drawing support from a rally in U.S. equities and Asian shares after Trump, speaking at the World Economic Forum in Davos, said the U.S. would not proceed with tariffs on Europe that were scheduled to take effect from February 1. His remarks ruled out an immediate ratcheting up in trade tensions and followed comments dismissing the use of force to take Greenland. However, analysts cautioned that the shift in tone will not fully dispel the underlying uncertainty. The U.S. dollar held on to overnight gains against major peers on Thursday after President Donald Trump withdrew a threat to impose tariffs on a number of European NATO nations, trumpeting the framework of a deal with NATO over control of Greenland. That put the safe-harbour Swiss franc on the back foot, retreating sharply from a three-week high, while gold sank from an all-time peak. The yen remained under pressure, hovering close to a record low versus the euro, after Japanese Prime Minister this week called a snap election and pledged measures to loosen fiscal policy. The Bank of Japan kicks off a two-day policy meeting on Thursday, but market participants expect no change as the central bank raised its policy interest rate at its previous meeting last month. The U.S. dollar held steady at $1.1685 per euro on Thursday, following a 0.3% rebound in the prior session. It was flat at 0.7953 Swiss franc after leaping 0.7% overnight. The risk-sensitive Aussie rose 0.4% to $0.6791, a level not seen since October 2024. It also hit the highest since July 2024 at 107.52 yen . Australian data for December showed a drop in the jobless rate to a seven-month low amid a surge in employment that was more than double what economists predicted. That could prove crucial in determining the Reserve Bank of Australia's course of action when it decides policy on February 3, analysts said. The yen was steady against most major peers in Asian trading on Thursday, but at 184.83 a euro , it did not stray far from the record low of 185.56 touched last week. The Japanese currency changed hands at 158.31 a U.S. dollar , near last week's 18-month trough of 159.45. Oil prices edged up on Thursday, after U.S. President Donald Trump ratcheted down tension with Europe over his demand for Greenland, while disruptions in supply from two large fields in Kazakhstan and a better demand outlook for 2026 lent support. Brent crude was up 9 cents, or 0.14%, at $65.33 a barrel by 0320 GMT. West Texas Intermediate for March rose 13 cents, or 0.21%, to $60.75 a barrel.......